[2016-11-10] Bitcoin firms get frantic calls to convert cash

[PHPSELLER]

Researchers have found ways to map each bitcoin transaction, taking away the blanket of anonymity

Bengaluru: Since Tuesday night, as digital payments providers registered spikes in transaction from consumers, bitcoin providers in India saw a spike of a different kind—calls from people wanting to turn in cash for bitcoins.

However, the callers were left disappointed when the firms told them that to buy bitcoins they would require to give their bank account details and undergo a know-your-customer (KYC) process.

Read more: http://www.livemint.com/Money/0MUb7GpwDgYFa3qXLF08QM/Bitcoin-firms-get-frantic-calls-to-convert-cash.html

[Dank14]

At the risk of sounding crazy, I keep wondering why people are so desperate to be anonymous like it protects their money from getting lost.

I like bitcoins not because it is "anonymous" but because it's worldwide, you can spend it without having to convert to fiat.